How to amend 2023 IRA

[suswang168T]

Hi,

I e-filed my 2023 tax return April 14, 2024 including IRA deduction of $7500, however, I didn’t contribute the amount to my IRA account before my filing. When I was transferring funds to my IRA account for the tax year 2023 at 3 pm PST April 15, 2024, I was told that the bank was already closed. Since I failed to make an IRA contribution for the tax year 2023 after I already e-filed my 2023 tax return, do I need to amend the entire 2023 tax return? What forms should I use to amend IRA deduction? Thank you!

Yuzhen Wang

[DanaB27]

Yes, you will need to amend your return to remove the traditional IRA contribution once it has been processed Please see How do I amend my federal tax return for this year?

1. Click on "Search" on the top right and type “IRA contributions” 
2. Click on “Jump to IRA contributions"
3. Deselect "Traditional IRA" and select "None of the above"
4. Confirm deletion of the IRA entry